Balance sheet equipment 500 inventories 100 receivables70
Revenue = 100 and cost of goods sold = 730
Balance sheet: equipment = 500, inventories 100, receivables70, payables = 50, debt = 300
What are the assets?
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Suppose that LilyMac Photography has annual sales of $234,000, cost of goods sold of $169,000, average inventories of $4,900, average accounts receivable of $25,800, and an average accounts payable balance of $7,400.
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